OVERVIEW

Hear Ye, Hear Ye – The Screen Doth Run Green This Day 🥳

Here’s What’s Happening 👇️

Today’s top trending tickers: XYO Network, World Liberty Financial, RaveDAO, NEAR Protocol, and Pudgy Penguins

Biggest winners: $STG ( ▲ 41.17% ) , $BEAT ( ▲ 19.72% ) , $DEXE ( ▲ 6.01% ) , $CRV ( ▲ 13.07% ) , and $XMR ( ▲ 10.79% )  

Biggest losers: $SIREN ( ▼ 26.75% ) , $JST ( ▼ 6.39% ) , $MORPHO ( ▼ 0.32% ) , $TRX ( ▼ 1.6% ) , and $XDC ( ▼ 0.66% )

Before we dive in, here’s the total crypto market cap and altcoin market cap charts:

Click to enlarge.

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TECHNICAL ANALYSIS
Charts 📈 

Total Crypto Market Cap

War over? Maybe. Who knows. But it didn’t take much to throw crypto a little reprieve. Oh, we’re still in the suck zone, not even close to a recovery or event what would be considered a bounce, at least it’s not moving lower.

Total Market Cap Daily Chart – Click to enlarge.

From a technical perspective, if you look at where the most recent daily candles have opened and closed, you’ll see they line up just below or right on top of the Feb 5 close of 2.14T. Toss the Tenkan-Sen in and you’ve got a near term resistance level that bulls needs to plow through before any hint of a change in direction can occur.

Personally, I’m watching what happens with the Detrended Price Oscillator, if it closes above the zero line and the Total Market Cap chart closes above $2.14T, that might begin some interesting moves.

Shiba Inu

Oh man, when was the last time I wrote about $SHIB ( ▲ 3.8% ) ? No idea. But it’s pretty good place holder for a lot of other tickers.

Click to enlarge.

There’s a few technical conditions worth noting.

1. The Kumo Twist – Kumo Twists occur when Senkou Span A moves above/below Senkou Span B, essentially changing the shaded in color from red to green or vice-a-versa. They’re also a kind of resistance in time to the trend in force, meaning, for example, if an asset is trending in a strong uptrend into a Kumo Twist, there’s a high probability that move reverses or pauses.

2. The Composite Index line (red) crossed above both of its moving averages at the same time, and there is no divergence present.

3. The Detrended Price Oscillator’s angle suggests a test of the zero line is imminent.

Like the Total Market Cap chart above, the level I’m most interested in watching is the Detrended Price Oscillator. Shiba’s Composite Index looks healthy, it might close above the Tenkan-Sen, let’s see if positive momentum carries on into tomorrow and through the weekend.

NEWS
a16z Drops $355 Million On Network So Private We Aren’t Totally Sure What It Does 🤔

You can be forgiven for not knowing $CC ( ▼ 0.91% ). It doesn’t trade like ETH, doesn’t meme like SOL, and nobody’s getting a tattoo of it. But it’s name pops up quite a bit in press releases and partnerships with some of the biggest names in funding raises and Wall Street.

Digital Asset, the shop behind Canton, closed $355M led by a16z crypto at roughly a $2B valuation. But it’s who else is along for the ride and has taken rides in the past that’s important.

• The Round: a16z in for $100M. Riding along – $HSBC ( ▲ 5.29% ) , BNP Paribas, Apollo, S&P Global, Citadel Securities, Optiver, Tradeweb, Coinbase Ventures, an Abu Dhabi sovereign fund subsidiary. Equity, not tokens.

• When It Started: Founded in 2014, funded by banks ever since. Cumulative raise now $820ish million across a decade – Goldman, JPMorgan, DTCC, and Deutsche Börse have all written checks.

• Usage? Yes: Broadridge’s repo platform settled $362B/day in tokenized Treasury repo in May – $7.2T for the month, up 220% YoY.

• More Stuffs: DTCC tokenizing Treasuries. JPMorgan bringing JPM Coin native to Canton in phases. $V ( ▼ 1.21% ) joined as a validator in March.

Just a little skeptic’s note, because somebody has to: Canton is privacy-gated, so the headline numbers – $6T tokenized, 700+ participants – come from the house, not an auditor.

Still. When $GS ( ▲ 3.43% ) , $JPM ( ▲ 1.41% ) , DTCC, and a16z are all building on the same network nobody’s talking about, it’s worth a look.

NEWS
Coinbase Wants You To Use The Same Technology That Can’t Reliably Count The R’s In ‘Strawberry’ 🤦

$COIN ( ▲ 4.2% ) came out with three updates today. A MassPay deal for cross-border stablecoin payouts, a quantum advisory report on what to do with the 1.7 million $BTC ( ▲ 1.72% ) parked in attackable legacy addresses, and Coinbase for Agents. It’s agent story I want to focus on.

Machine, Trade Thy Self

In a nutshell, Coinbase now lets you connect an AI agent (the same class of software that still can’t reliably count the letters in a word) straight to your Coinbase account, where it trades and pays on your behalf. 

And it’s live! Today! As an MCP for Claude Web and ChatGPT, and a CLI for Claude Code. Tell it your allocation, tell it to DCA into $ETH ( ▲ 1.89% ) at the cheapest hour, and walk away. “Set it and forget it,” offered as a selling point and not a warning.

But I asked myself, ‘Self? Is there anything here to stop someone from letting stupid kill their account(s)?’ Because as fun as letting a bot freestyle your net worth on autopilot is, there has to be some protections, right?

Sort of. You can sandbox it in an isolated portfolio (opt-in, naturally). There’s KYT (Know Your Transaction) compliance, which stops money laundering, not bad decisions. But exact rules involving maximum trade size, what it can interact with, how much it can spend? That part is, I quote, “coming soon.”

RWA
Not Just Stocks Getting Tokenized – It’s The Gold, And… The Gold That’s Still In The Ground? ⛏️

A pile of real-world assets backed up by gold, commodities, and in one case, gold that’s still underground hit this week.

Cap added Matrixdock’s XAUm as collateral, its first tokenized RWA. XAUm is clean: one token, one troy ounce of 99.99% LBMA gold, vaulted, Bureau Veritas–audited, on-chain proof-of-reserves. And you can borrow against it on-chain.

Keeta $KTA ( ▲ 5.4% ) (the one that claims11.2M TPS with Google’s Spanner team) – signed a JV with UAE’s ASK Group. It’s all about route remittances (the UAE–India runs $20B/yr) over a network instead of correspondent banks. Goal two: a public exchange by 2027 where physical Gulf commodities trade as tokens, 1:1-backed by oil, gold, and copper in audited custody.

And for the world’s most unique and dumb commodity tokenization, I give you NatGold. They’re listing NATG on July 8 to tokenize in-ground gold – unmined, valued by a patent-pending process, stored in “Mother Nature’s Vault.” This seems weird given a resource isn’t a reserve, and a reserve in the rock isn’t an ounce in your palm.

OLD NEWS
Crypto Stuff That Happened Today, But A Long Time Ago 📜

Here’s what was happening in the newsletter a year ago today:

• This one was mostly DeFi 101 plus weird crypto trivia – a primer on DEXs and a batch of “crypto is a very normal industry” facts.

• The “crazy facts” section was the memorable part – roughly 20% of BTC lost forever, Satoshi still unknown, Ethereum Classic as the original chain, BTC mining using absurd amounts of power, DOGE and LTC being merge-mined, plus oddball stuff like a token for time travel research and a mouse-DNA wallet experiment.

Here’s what was happening in the newsletter two years ago today:

• Polygon rolled out a big community treasury push – about 35 million MATIC was set aside in season one of a broader $720 million support plan for projects over 10 years.

• Binance Coin had briefly touched new all-time highs – then immediately lost the highs again, because crypto never misses a chance to be annoying.

• The rest of the issue was educational filler – two Crypto 101 pieces, one on Bitcoin’s historical groundwork and another on liquidity pools.

OLD NEWS
Other Stuff That Happened Today, But A Long Ass Time Ago ⌛️

June 11

• 1289 – Dante fought in the Battle of Campaldino – Dante Alighieri was out there doing medieval combat before becoming literature’s grief-core mascot.

• 1509 – Henry VIII married Catherine of Aragon then it eventually helped trigger the English Reformation.

• 1776 – Congress picked the Committee of Five. Jefferson, Adams, Franklin, Sherman, and Livingston were assigned to draft the Declaration of Independence.

• 1898 – China’s Hundred Days of Reform began. The Guangxu Emperor issued his first reform decree, trying to modernize China’s state and society.

• 1944 – JFK received the Navy and Marine Corps Medal.

• 1962 – Three prisoners escaped from Alcatraz. Frank Morris and brothers John and Clarence Anglin left on a makeshift raft and were never found.

• 1963 – The University of Alabama was desegregated.

• 1963 – Thích Quảng Đức self-immolated in Saigon.

• 1982 – E.T. the Extra-Terrestrial opened

• 2001 – Timothy McVeigh was executed

• 2010 – The World Cup opened in South Africa. Vuvuzelas… never again. Everyone’s ears filed a class-action lawsuit.

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Author Disclosure: The author of this newsletter holds positions in AVAX, ADA, PUDGY, WLD, NEAR, INJ, LTC, LINK, ZEC, XLM, and FET. 📋